Prepare for a possible sharp decline. We hit 5 waves. A possible correction is due. For btc support is around 93-95k.
If this plays out it will be a wave 2.
Dont get me wrong. This isnt bearish. This is a setup for higher prices for a larger wave 3.
If it happens. Risk to reward is good.
Do not let it catch u off guard and do not panic if it happens.
Wave 2s can also be shallow. This isnt a warning. Its always good to prepare yourself mentally to endure the volatility. As of now, the downtrend seems to be broken. A wave 2 is usually a bear trap and to shake off weak hands
Alot are giving up on the idea of altseason. Thinking about it, sell it. 🤣 markets are designed to literally make u feel that way. If youve been in crypto long enough, you know that when people lose hope the mega pump is close. Its not rocket science. Its an emotional cycle
Eth is retesting the upper trendline. Its crazy how bearish we get with a small move but if you zoom out its nothing but a breakout retest. It would be a good entry for low leverage trade. But again this is the daily chart. So trading based on daily charts is trading for the weeks and months to come. Not hours or minutes.
This would be a nice swing. Any movement is just noise